A report out last week from the Republican staff of the Senate Budget Committee highlights a critical point about Obamacare: The law's negative effect on labor markets helps explain why it will increase deficits by $131 billion over the next 10 years.
This finding stands in stark contrast to Democrats' repeated assertions that the law will reduce the deficit.
The public dialogue on Obamacare has thus far largely focused on how the law affects premiums and limits access to certain health insurance plans or doctors. While these side effects are troublesome, it is perhaps more significant that Obamacare has had — and will continue to have — a substantial impact on labor markets, jobs and the budget picture.